Gap Inc. is shutting down its Banana Republic New York City headquarters.

Some 112 corporate staffers who work on store and product design, human resources, communications and operations were told that their jobs are being moved to Gap’s San Francisco headquarters by May, according to a government filing.

Banana Republic is the weakest-performing of Gap’s brands, turning in 12 consecutive quarters of declining same-store sales as its preppy look has fallen out of favor.

The fall-off in 2017 was not as steep as in the previous two years.

“Banana Republic’s challenges have been clear for some time and the ability to save costs by consolidating the business into the corporate headquarters is probably an action among many possibilities management has been entertaining,” said Nomura Instinet analyst Simeon Siegel.

Last September, Gap said it expected to save $500 million over the next three years by streamlining its operations, including closing about 200 underperforming Gap and Banana Republic locations.

The Big Apple headquarters is likely part of this savings, said RBC Capital Markets analyst Brian Tunick.

“There had even been speculation that Banana Republic was not long for the Gap portfolio,” he added.

The company is betting big on its Old Navy chain, which chief executive Art Peck says has the potential to grow to $10 billion in revenue from its current level of about $6.5 billion.

Gap Inc.’s newest addition, its Athleta brand, will exceed $1 billion in sales over the next several years, Peck said.

“Having the full team on one campus together will help the brand be more nimble, collaborative and competitive,” said Gap spokeswoman Sheikina Liverpool.

About a third of the Big Apple Banana Republic employees are relocating to San Francisco, she said, but Gap’s other brand employees are staying at the 55 Thomas St. location.